ntuc-income has recently launched their latest participating endowment product, FlexRetire on Jan 28, 2015.
what is FlexRetire?
FlexRetire is a savings plan that lets you decide when you want to retire and the period of your premium payment. It provides regular payment every month at your selected retirement age1 and you can choose how long to receive this monthly retirement income to suit your desired retirement lifestyle.
1The first monthly regular payment is paid one month after the policy anniversary on which the insured reaches the selected retirement age.
benefits at a glance:
- Flexibility to choose and change the period of your monthly retirement income before your selected retirement age
- Choice of premium payment terms.2
- Potential returns of up to 4.41% p.a.3
- Capital guaranteed4 at your selected retirement age
- Future Gift – A maturity bonus of up to 24 times your final monthly retirement income.5
notes:
2 When you choose premium payment term of up to age 50, 55, 60 or 65, you must choose to receive your retirement income starting from age 55, 60, 65 or 70 respectively.
3 The projected return of 4.41% p.a. is not guaranteed and is based on: - Male, age 35 who saves with FlexRetire,
- Paying yearly premiums of $12,485 for 10 years, and
- Receives a projected monthly retirement income of $2,216 (of which $1,000 is guaranteed while $1,216 is non-guaranteed) for 20 years, starting from age 65.
4 Capital guarantee is on the basic plan only, on the condition that all premiums are paid, and that the policy is held until the policy anniversary at your selected retirement age with no policy alterations or related transactions.
5 “Future Gift” means the “maturity bonus” as referred to in the policy contract. The Future Gift amount of up to 24 times of the final monthly retirement income is not guaranteed and will be determined by NTUC Income at the point of policy maturity.
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